He again cited China as an example to show that economic progress is not necessarily correlated with land ownership. He pointed out that China managed to keep its economy robust even if it does not allow foreigners to own land.

Cagayan de Oro City Rep. Rufus Rodriguez earlier said the President was keeping an open mind on “economic” Charter change, contrary to what Malacañang officials are telling the public.

Rodriguez said he informed the President that under the Cha-cha proposal of the House, he would have veto power over any Congress-approved bill that seeks foreign ownership of land or a certain sector of the economy.

Under Resolution No. 1, Speaker Feliciano Belmonte Jr. and his colleagues are seeking the amendment of the economic provisions of the Constitution by inserting the phrase, “unless otherwise provided by law.”

This means the present restrictions would remain unless Congress lifts them. A bill would have to be approved for every restriction that would be scrapped.